I am coming, #Gate广场四月发帖挑战 analysis of market-making techniques used by Chinese traders. I declare that this is only a speculation, without substantial evidence, and should not be taken as investment advice:

Recently, a batch of tokens possibly market-made by Chinese traders has been identified, including but not limited to: 4, I am coming, Lobster, etc.
Step one: Market makers buy a large amount of spot on-chain when launching the BN contract, reaching about one-third of the total, while simultaneously selling the corresponding amount in the contract. This operation causes a price increase, as buying spot has a greater impact on the price than the contract. Once it reaches about one-third, the price is relatively high, retail investors start shorting, and the price crashes. However, the market maker’s held value remains unchanged.
Step two: When the market cap drops to around $5 million to $8 million, the market maker begins buying contracts and spot to harvest the shorts. The price rises, potentially by 5 to 100 times. Volatile swings, with both bulls and bears getting caught.